Company Overview - MoneyGram International
MoneyGram International is a prominent global financial technology firm specialized in cross-border transactions. Established more than eight decades ago, this company leverages a comprehensive retail network with over 440,000 locations spread across 200+ countries and territories. Impressively, over 50% of MoneyGram's transactions are conducted digitally, with relentless efforts to grow its digital presence further.
Vision and Mission
MoneyGram's vision is ambitiously set towards a world without financial borders, where transactions boost shared prosperity and opportunities. The core mission revolves around connecting the world through seamless, affordable, and secure money transfers, aiming to empower individuals, businesses, and communities alike.
Innovations and Collaborations
Operating an advanced cross-border platform, MoneyGram enables millions globally to send money to bank accounts, mobile wallets, or cards. Strategic collaborations with the Stellar Development Foundation and integration with Circle’s USD Coin (USDC) illustrate the company's pioneering role in merging traditional and cryptocurrency systems, setting new grounds for digital asset access via its retail infrastructure.
Executive Leadership Team
- Anthony Soohoo - Chairman and CEO. Since joining in October 2024, Soohoo has driven the digital transformation and AI adoption within MoneyGram. He holds an MBA from Harvard Business School.
- Gary W. Ferrera - CFO from June 2024. Ferrera spearheads the finance, accounting, tax, and treasury functions, employing his expertise in implementing strategies to boost company growth and profitability.
- Anna Greenwald - Chief Growth Officer. Greenwald's initiatives center on growth and innovation, notably in enhancing financial inclusion and customer satisfaction.
- Luke Tuttle - CTO since February 2025. Tasked with directing the technology strategy, Tuttle brings extensive experience in fintech ensuring the scalability of MoneyGram's global payment framework.
- Bahar Sahajwalla - Chief Regulatory and Public Affairs Officer. Appointed in March 2024, Sahajwalla manages the company's regulatory interactions and public communications, maintaining compliance and strengthening external relationships.
Social Impact and Compliance
MoneyGram emphasizes social impact and compliance, with proactive approaches toward corporate citizenship, philanthropy, volunteerism, and fostering inclusion. Authorized to operate across all 50 U.S. states and territories, the company holds licenses from reputable entities such as the New York State Department of Financial Services.
Key Achievements
- Over the last five years, they have provided seamless transaction integrations for over 150 million users.
- Their direct-to-consumer application significantly prides itself on a 4.9-star rating, indicating high customer satisfaction.
- Partnered with aid agencies like the UNHCR and IRC to scale digital aid facilitation.
Contact Information
- Official Website: [MoneyGram Corporate](https://corporate.moneygram.com/)
- LinkedIn: [Anthony Soohoo](https://www.linkedin.com/in/anthonysoohoo), [Gary Ferrera](https://www.linkedin.com/in/gary-w-ferrera-29538613), [Anna Greenwald](https://www.linkedin.com/in/anna-greenwald-b898083), [Luke Tuttle](https://www.linkedin.com/in/luketuttle), [Bahar Sahajwalla](https://www.linkedin.com/in/bahar-sahajwalla-a5263517)
Competitor Analysis
Market Landscape
MoneyGram competes prominently in the digital remittance sector, contending with key players such as Western Union, Wise (formerly TransferWise), Remitly, and WorldRemit. Western Union showcases significant market command with a 2023 revenue of $4.36 billion, while MoneyGram's own market share was recorded at 2.01% for the same year.
Western Union
- Location: Denver, Colorado, U.S.
- Financials: 2023 Revenue stood at $4.36 billion, with operating and net incomes recorded at $817.5 million and $626 million respectively.
- Known for services including wire transfers, money orders, and bill payments, Western Union balances a robust digital and retail network.
Wise
- Headquarters: London, United Kingdom
- 2023 Financials: £1.1 billion in revenue.
- Wise, publicly listed in 2021 with an $11 billion valuation, specializes in low-cost, quick international transfers enabled by its multi-currency platform.
Remitly
- Headquarters: Seattle, Washington
- Operations: Active in 170+ countries, Remitly offers secure, reliable digital remittances, earning it recognition in Deloitte's 2024 rankings for rapid technology growth.
WorldRemit
- A digital platform known for broad international transfer services across 100+ countries, including mobile and bank transfers.
Industry Insights
Market Share and Growth
Wise and Western Union set themselves apart with extensive reach and technological edge in payments and remittances. Utilizing innovative business models like peer-to-peer transfers, they offer competitive rates, appealing to cost-conscious users.
Challenges and Opportunities
Heightened competition from technological advances and expansive networks persist. MoneyGram, however, is positioned to harness partnerships and tech advancements to enhance service delivery and customer outreach.
Regulatory Environment
Amidst increased regulations, major players like MoneyGram prioritize compliance with anti-money laundering standards, crucial for trust in this tightly regulated domain.
